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NEWS & UPDATES

Ah, where to find answer that IRS or no one else on the web discusses and this answer is impacting your ability to make a logical decision of how to proceed. Here you go.

You know your USA property sale will be at a loss with no tax due to IRS and therefore have no interest in providing 15% withholding of the sales price to IRS and only able to claim it ba...

To calculate taxable income, taxpayers subtract from their adjusted gross income (AGI) the appropriate number of personal exemptions.

Canadians get preferential treatment over citizens of most other countries regarding exemptions - if one was a U.S. national or a resident of Canada or Mexico, one can claim an exemption for a child or other dependent (who h...

Social Security Statements can now be accessed online, sign up at: https://www.ssa.gov/myaccount

One is also able to receive U.S. Social Security Benefit Verification Letter stating that:

  • one never received Social Security benefits, Supplemental Security Income or Medicare

  • one received benefits in the past but do not currently receive them

This i...

Effective for dispositions since February 16, 2016, Public Law (PL) 114-113, the Protecting Americans from Tax Hikes (PATH) Act, generally increased FIRPTA withholding tax on sale of US property from a foreigner to 15 percent of the amount realized.

But, surprise, 10% can still apply (against all the training of legal clerks and title assistants who h...

There is US sale tax ‘nexus’ law change via the recent U.S. Supreme Court ruling; specifically online sales will much more easily be subjected to US sales tax. Also Canadian (and other non-US sellers) with no USA physical presence who previously did not have nexus in a state, may now find they have nexus for sales tax purposes.

Quill, which set a standard...

The IRS is now accepting ITIN renewal applications for:

ITINs that have not been used on a federal tax return at least once in the last three consecutive years and

ITINs with middle digits 73, 74, 75, 76, 77, 81 or 82 that will expire at the end of the year.

(For example: 9NN-73-NNNN) need to be renewed even if the taxpayer has used it in the last three year...

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